Resources 'uncertainty' blamed for rental price dive

Real estate agents on Queensland's Central Highlands say they have been caught off-guard by the downturn in the resources industry.

Rental prices in Moranbah, south-west of Mackay, over the past 12 months have dropped from $1,800 per week to $350, causing an oversupply of properties.

Real estate agent Kerri Furber says she has had to offer two weeks free rent to try to entice tenants into properties in Nebo, south-west of Mackay.

She says several factors have led to the downturn in the rental market.

"The high Australian dollar, the price of coal, also there's been a couple of big companies lose contracts," she said.

"There's a fair bit of uncertainty - people don't know with the new people who [have] got the contracts, whether they'll be employing people locally or whether they'll be bringing people in and putting them in camps.

"Until things happen again, there's definitely an uncertainty."

Real estate agent John Wood says more families are now moving to the town as a result of the downturn.

Mr Wood says the market shifted before the local agencies could adjust their prices.

"It was basically overnight, we had a few properties being handed back and then all of a sudden the demand wasn't there," he said.

"Ten houses on the market became 20, and 20 followed through.

"We did get to about 200 houses being available and of course then the rental prices started going down but it was basically overnight the market changed."